Thursday, 21 March 2013

Budget 13: How Osborne Buried The Bad News

The Daily Telegraph's Liam Halligan points out that when assessing the Budget, one needs to focus on the fine print rather than on what the Chancellor actually said.

The UK’s ongoing annual deficit means the country’s national debt is rising and that increase in the debt stock needs to be borrowed. While the Chancellor’s rhetoric was tough, Halligan shows that the government is on course to borrow almost £200bn more than was envisaged in the 2012 budget over the next five years – a staggering number that was not mentioned in his speech.

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